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Monday, March 26, 2012

Verenium Gains $37M From Asset Sale

San Diego-based Verenium Corporation, a firm developing industrial biotechnology, said today that it as sold off its oilseed processing business to DSM Food Specialties B.V., a unit of Royal DSM, for $37M. The deal also included licensing of certain enzymes for use in the food and beverage market, and access to gene libraries being developed by Verenium. Verenium said it will continue to focus on developing novel enzymes for use in animal health and nutrition, grain processing and oilfield services.